China’s largest sneaker retailer with over 20,000 stores has selected Bank of America Merrill Lynch to take it public again at a valuation of HK$20-25 billion ($2.87 bb), according to Reuters. A group of investors led by management and including CDH Investments and Hillhouse Capital took Belle private in 2017 at a valuation of HK$53.1 billion ($6.8 bb) as its results were eroding under the wave of online selling in the market. The justification for taking it private was that it would be easier to fix its problems as a private company. Belle operates more than 20,000 retail stores and ... Log in to view full article.